MJ Martin (1 May 2006)
"$100 Billion Iran-China energy deal ready to be signed"


$100b Iran-China energy deal ready to be signed: Chinese ambassador
TEHRAN, April 29 (MNA) – Chinese Ambassador to Tehran Lio G. Tan has said that the oil and gas deal between Iran and China has been thoroughly studied by experts and is ready to be signed.
The Chinese ambassador was clearly referring to an energy agreement between Tehran and Beijing which is worth over 100 billion dollars. 

“No country can prevent the deal,” the ambassador told the Mehr News Agency correspondent in Tehran last week.

When asked whether China was under U.S. pressure not to sign the deal, Lio responded by asking, “Would the U.S. export oil to us if it didn’t let you (Iranians) give it to us?” 

The ambassador said that even if there were no dispute over Iran’s nuclear program, the U.S. would have tried to halt the deal, but China will not be swayed. 

He noted, “For example, can you find a time since the victory of the Islamic Revolution that the U.S. has not interfered in your country’s affairs?”

He put China’s annual oil imports from Iran at over 10 million tons.

A delegation from Iran’s Oil Ministry is due to visit China soon to conclude the huge oil and natural gas deal.

A memorandum of understanding was signed in October 2004 between Iran and Sinopec, China's largest refiner, to buy 250 million tons of liquefied natural gas (LNG) over 25 years.

In exchange for developing Yadavaran, one of Iran's largest onshore oil fields, China would agree to buy 10 million tons of liquefied natural gas a year for 25 years beginning in 2009.